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How the Court Could Rule in the CFPB Constitutionality Case
National Mortgage News, Apr. 19, 2016--Berry, Kate Despite a tough public grilling of the Consumer Financial Protection Bureau last week by two D.C. Circuit judges, several legal experts said a ruling against the agency and its director, Richard Cordray, may have a limited impact.
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Is TRID Hysteria Over? Time to Close Drops to 12-Month Low
HousingWire, Apr. 20, 2016--Lane, Ben Despite initial hiccups and headaches, lenders now have this whole TRID thing figured out, as the time to close a loan fell to a 12-month low in March.
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Fannie Mae Chief Economist: Affordability is Housing Market’s Top Issue
Jacksonville News & Daily Record, Apr. 20, 2016--Hawkins, Carole Affordability, not rising interest rates, will be the biggest drag on the housing market in 2016. That's the news Fannie Mae Chief Economist Doug Duncan delivered Tuesday at the Mortgage Bankers Association of Jacksonville's monthly meeting.
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Trustee Claims on Legacy RMBS Are on the Clock
National Mortgage News, Apr. 20, 2016--Sinnock, Bonnie New claims related to sellers of legacy mortgage-backed securities from the financial crisis may have peaked, but lawsuits against trustees and servicers may linger for at least a few more years.
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Regulators to Call for Banks to Have Year’s Worth of Liquidity
Wall Street Journal, Apr. 25, 2016--Borak, Donna Large U.S. banks would have to prove they have enough cash to withstand severe market turmoil lasting as long as a year under a new rule set to be proposed Tuesday.
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There May Be a Future for TRID Securitizations Yet
HousingWire, Apr. 25, 2016--Swanson, Brena Despite lack of guidance from the Consumer Financial Protection Bureau, the Structured Finance Industry Group's due diligence grades provide clarity for investors.
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Nationstar, Flagstar Receive Top Mortgage Servicing Marks from Fannie Mae
HousingWire, Apr. 25, 2016--Lane, Ben Nationstar Mortgage and Flagstar Bank are among two of the best mortgage servicers in the country, according to Fannie Mae, which recently bestowed both with its highest level of performance recognition.
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Scott Walker Signs Stricter OWI Law
Appleton Post-Crescent (Wis.), Apr. 25, 2016--Marley, Patrick; Spicuzza, Mary The legislation Walker signed Monday follows a 2015 unanimous state Supreme Court decision upholding a 2012 law that strengthened Milwaukee's hand in dealing with zombie homes. In that case, justices said that when a court declares a foreclosed property to be abandoned, the lender must offer it for sale. Foreclosed properties are auctioned off at sheriff's sales and lenders often buy the properties themselves.
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HUD Reaches Agreement with Fidelity Over Unfair Lending Allegations
National Mortgage News, Apr. 22, 2016--Passy, Jacob HUD said Friday that an agreement was reached between Fidelity Bank and the Fair Housing Project of North Carolina Legal Aid.
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